This week, a number of photovoltaic-related companies issued annual performance forecasts for 2025, and some of them maintained profits while the industry chain as a whole was in a state of substantial losses, bringing a little comfort to the depressed industry sentiment.
CSG A: Net profit of 88.9 million yuan to 132.7 million yuan
On the evening of January 30, CSG A issued a performance forecast for 2025, and the company's net profit attributable to shareholders of listed companies in 2025 was 88.9 million yuan to 132.7 million yuan. Decreased by 66.68% -50.26% year on year ; Net profit after deducting recurring gains and losses was a loss of 13.9 million yuan to 84.6 million yuan, down 215.08% to 170 from the same period last year.
The gross profit of related products declined compared with the same period last year. In accordance with the relevant provisions of the Accounting Standards for Business Enterprises and the Company's accounting policies, and adhering to the principle of prudence, the Company intends to make provision for impairment of relevant assets.
In addition, the company has a greater impact on the company's net profit in the early stage of the lawsuit.
Goodway: Net profit of 125 million yuan to 162 million yuan On the evening of
January 29, Goodway issued a performance forecast for 2025, predicting that the net profit attributable to the owner of the parent company in 2025 will be compared with the same period last year (statutory disclosure data). The net profit attributable to the owner of the parent company will be 125 million yuan to 162 million yuan , compared with the same period last year. The net profit attributable to the owners of the parent company after deducting non-recurring gains and losses is
estimated to be 34 million yuan to 71 million yuan , compared with the same period last year. It will increase by 227.574 million yuan to 264.57 million yuan.
The main reason for the performance reversal is to benefit from the domestic photovoltaic rush to install, the Australian household storage subsidy policy and the European market out of the inventory adjustment period. The company's sales volume and gross profit of inverters and energy storage batteries have increased significantly.
In addition, according to the previously published third quarterly report of 2025, Goodway realized a net profit of 8111 yuan attributable to shareholders of listed companies in the first three quarters of that year.
It is estimated that the net profit attributable to shareholders of listed companies in 2025 will be 0.55 million yuan of 87840 to 0.55 million yuan of 125486, a decrease of 50.00% to 65.00% compared with the same period last year; It is estimated that the net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses in 2025 will be 65840 of 0.55 million yuan to 97486 of 0.55 million yuan, a decrease of 60.35% compared with the same period last year. During the
reporting period, due to the cyclical fluctuations in the photovoltaic industry, the demand for photovoltaic equipment declined. The gross profit of the photovoltaic business decreased by approximately RMB2.2 billion to RMB2.6 billion as a result of the decrease in the prices of quartz crucibles, diamond wires and other materials. Meanwhile, the provision for credit impairment decreased by approximately RMB0.4 billion, resulting in a year-on-year decline in the combined results. In 2025, it is estimated that the impact of non-recurring gains and losses on net profit will be about 220 million yuan to 2.
According to its quarterly report, the company realized a net profit of 900 million yuan attributable to shareholders of listed companies in the first three quarters of 2025. In the fourth quarter, the net profit attributable to the parent company was a loss of 20 million yuan to a profit. 3
. Gaoshi shares: the third and fourth quarters realized profits
. On the evening of January 29, Gaoshi shares disclosed the 2025 annual performance forecast. It is estimated that the net profit loss in 2025 will be 35 million yuan to 48 million yuan , and the loss in the same period last year will be 44 million 227 thousand and 900 yuan;
In view of the reasons for performance changes, Gaojian shares said that in 2025, during the reporting period of photovoltaic reporting period, the company's diamond wire shipment scale increased year-on-year, tungsten wire cold-drawn bus production capacity increased, silicon wafer and cutting processing services business shipment scale increased year-on-year, and the operating rate in the second half of the year maintained a high level. Scale effect promotes cost reduction, continues to promote cost reduction and efficiency enhancement, and achieves quarter-on-quarter improvement in profitability, with profitability achieved in the third quarter and the fourth quarter. Qibin Group: Net profit of 550 million yuan to 670 million yuan Qibin Group disclosed on the evening of January 29 that the net profit attributable to the owner of the parent company in 2025 was 550 million yuan to 670 million yuan . Compared with the same period last year, it is expected to increase by 167 million yuan to 287 million yuan, an increase of 43.76% to 75.12%; The net profit attributable to the owner of the parent company after deducting non-recurring gains and losses is 85 million yuan to 125 million yuan, which is expected to decrease by 164 million yuan to 204 million yuan compared with the same period last year, a decrease of 56.69% to 70 . In the second half of the year, the alleviation of the contradiction between supply and demand in the photovoltaic glass industry and the recovery of demand are important factors. Qibin Group said that in 2025, the photovoltaic glass industry showed the characteristics of "phased imbalance between supply and demand, overall oversupply" throughout the year, and in the second half of the year, with the introduction of the Work Programme for Steady Growth of Building Materials Industry (2025-2026), the industry's "survival of the fittest" orientation was clear. The disorderly competition has been effectively curbed , and the contradiction between supply and demand has been alleviated in stages due to factors such as cold repair, production reduction and delayed production capacity, while the company's photovoltaic glass business has actively promoted capacity optimization and cost control. Expanding overseas markets , the reporting period realized the plate turning losses into profits. However, it is noteworthy that in August 2025, the company announced that Shaoxing Qibin Glass Co., Ltd., a wholly-owned subsidiary, and Zhejiang Qibin Energy-saving Glass Co., Ltd. Expected to increase the company's net profit 4. Tongling shares: net profit of 25 million yuan to 34 million yuan on the evening of January 29, Tongling shares issued a 2025 annual performance forecast. It is estimated that the net return to the mother in 2025 will be 25 million yuan to 34 million yuan, down 52.38% to 64.98% from the same period last year; Net profit after deduction of non-profits is estimated to be RMB15 million to RMB21 million, representing a year-on-year decrease of 61.69% to 72.The decrease in performance is mainly due to the low operating rate of each link in the PV industry chain and the https://www.databm. of downstream PV Component prices continue to fall, while such as silver. In 2025, it is estimated that the impact of non-recurring gains and losses on net profit will be about 1,200. Liancheng CNC: net profit of 63 million to 94 million yuan On the evening of January 28, Liancheng CNC issued its annual performance forecast for 2025. The company expects to achieve a net attributable profit of 63 million to 94 million yuan in the whole year, compared with 3 in the same period last year. Influenced by factors such as the continuous mismatch between supply and demand in the photovoltaic industry, the weak demand for equipment from downstream enterprises and the involution competition, the company's main photovoltaic equipment business continued to bear pressure, resulting in a phased decline in the scale of operating results during the reporting period. At the same time, based on the principle of prudence, the company further made the corresponding provision for impairment, which also had a certain impact on performance. The previous three quarterly reports showed that Liancheng CNC realized a net profit of 95.14 million yuan attributable to shareholders of listed companies in the first three quarters of 2025. According to this calculation, the net profit loss of the company in the fourth quarter of 2025 was about 32 million yuan to 1 million yuan. ST Jingji: Profit of 190 million yuan to 235 million yuan On the evening of January 28, ST Jingji issued a performance forecast that in 2025, the company will realize a net profit of 190 million yuan to 235 million yuan attributable to shareholders of listed companies. Decreased by 45.19% -55.69% over the same period last year; Net profit after deduction of non-recurring profit and loss was RMB100 million to RMB145 million, representing a decrease of 58.49% to 71% as compared with the same period of last year. In view of the reasons for the decline in performance, ST Jingji said that the main reason was that the performance of the company's core business, photovoltaic equipment business, declined due to the impact of the industry cycle. In 2025, the PV industry, where the core business of the Company is located, will still face the pressure of periodic oversupply, the operating rate of all links in the industrial chain will generally decline, and the investment willingness of the downstream market will tend to be prudent, resulting in a greater impact on the number of orders and acceptance progress of the Company as a supplier of PV equipment. At the same time, in line with the principle of prudence, some assets have been tested for impairment, and it is proposed to make provision for impairment of related assets. The company's three-quarter report in 2025 shows that in the first three quarters, the company realized a net profit of 78.68 million yuan attributable to shareholders of listed companies. In the fourth quarter, the company achieved a net profit of 110 million yuan to 1. Wuxi Pioneer: a profit of 1.5 billion yuan to 1.8 billion yuan . On the evening of January 25, Pioneer Intelligence disclosed its 2025 performance forecast. The company's annual net profit attributable to shareholders of listed companies in 2025 is expected to be between 1.5 billion yuan and 1.8 billion yuan , an increase of 424.29% to 529. Year-on-year growth of 310.83% -394. The main reasons for the increase in performance were that the global power battery market continued to recover in 2025, the demand for energy storage grew strongly, the overall demand of the industry continued to recover, and the company's leading position in the field of new energy intelligent equipment was further consolidated. With the increase of the operating rate of domestic head battery enterprises and the orderly acceleration of the pace of production expansion, the company's order scale rebounded rapidly year on year, and the pace of order delivery and project acceptance accelerated synchronously, which promoted the bottom rebound and rapid growth of the company's operating performance, and the overall profitability improved significantly. According to the previous three quarterly data, in the first three quarters of 2025, the company realized a net profit of 11.
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